Retirement Planning

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Are you having trouble knowing whether you’re financially ready to retire?

This week, we’ll show you the single biggest mistake people make when trying to calculate whether they’ve got enough to retire.


We know it can be hard to figure out whether you’ve got enough to retire.

Often, we find that many people end up working longer than they need to, wondering if they have enough financially for their anticipated retirement dream.

So why does this happen?

In their heads, they’ve worked out a specific amount they think they need. This is normally based on how much they currently spend, plus a bit more for holidays and some other extras for what they think they need when they retire.

They then check their pensions and their investments and realise they might not generate as much income as they’ve calculated.

Because of this, they think they need to work longer, earn a little bit more, and save a little bit more until their pensions and investment amount catch up to the amount they think they need.

But let’s pause for a moment and consider this: retirement isn’t just a destination; it’s a long journey. It spans decades—maybe even 30 years or more. And throughout this journey, life changes.

In the early years of retirement, you might spend more, but as time goes on, spending tends to decrease. Why? Well, you might ease up a bit as you get older, so costs naturally go down. On the flip side, your income tends to rise, especially with the state pension kicking in during retirement, boosting your overall income faster than your costs decrease.

The point here is, if you’ve done the maths, you might find that although there seemed to be a shortfall in some years, you would’ve ended up with more than you thought if you had actually retired.

That feeling of not having enough is often a perception issue rather than reality. It’s all about doing the maths for your whole life, not just for now.

You’ve got to model it. And that’s what we can do.

It’s not just about the immediate numbers; it’s about mapping it out for your entire life. That’s where financial planning comes in. When people come to us, we show them the big picture—how they’ve got enough for the rest of their lives, not just for the next year’s expenses.

So don’t work longer than you need to, just because you didn’t do the proper maths.

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